Fleet Feet, Inc. recorded a 22% growth in overall sales in 2005, surpassing $52 million in revenue, compared to $43 million in 2004. Comparative stores sales in 2005 were up 14% on top of the 12% increase posted in 2004. Fourth quarter comps were up in the mid-teens. The franchisor now boasts 67 stores in 32 states, opening six stores in the first half of the year on top of the twelve stores opened in 2004. They expect to see one store (Santa Monica) close in 2006.


Much of the growth came from outside of its historically strong footwear business, with the Bra Fit program in particular adding a lot of energy to the women’s business. Based on the success of that program, and the brand partnership program with Moving Comfort and Champion, it was probably no surprise that Moving Comfort walked away with the Apparel Vendor of the Year award at Fleet Feet’s franchisee conference this week.

Looking ahead, Fleet Feet expects to have 100 stores by the end of 2008, with seven to nine stores planned for 2006 and 10 to 12 more in 2007. Two franchisees have already been signed for 2007. Company CEO Tom Raynor said that Fleet Feet is projecting 15% annual growth over that same three year period.

Jeff Phillips, president of Fleet Feet, Inc., said that the newer stores really contributed to the comp store sales gain for the year, but stores opened before 1993 still averaged a 9% comp sales gain for the year, about the same as the stores opened between 1993 and 1998. Stores opened between 1998 and 2000 saw comps increase more than 20% on average, while the stores that opened since 2000 posted average comp store sales increases that exceeded 35% versus the previous year.

Asics was the fastest growing footwear brand in 2005, with sales jumping 45.4% for the year. Mizuno was second in footwear with sales increasing 30.3%, while Brooks rounded out the top three with a 27.1% increase for the year. In apparel, Asics also took home the prize for the biggest percentage increase, jumping 64.2% in 2005. Moving Comfort posted a 57.6% increase to take the second spot and Brooks delivered a 40.2% increase to round out the top three.

On the market share front, Asics and Brooks are distancing themselves from the pack. Asics made up 24.9% of combined footwear and apparel sales and Brooks represented 19.7% of sales for the two categories.